NOT FOR PUBLICATION OR DISTRIBUTION
IN OR INTO THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA
Probiodrug
launches capital increase by means of an accelerated bookbuild
offering
HALLE/SAALE,
Germany, 5 October 2016 - Probiodrug AG (the "Company") (Euronext Amsterdam: PBD), a
biopharmaceutical company developing novel therapeutic solutions to
treat Alzheimer's disease (AD), intends to issue up to 744,248
new shares (the "New Shares"). The New Shares
represent up to approximately 10% of the Company's issued share
capital. In this context, the Company's management board has
resolved, with approval of the Company's supervisory board, to
increase the share capital of the Company by EUR 744,248, from EUR
7,442,487 to EUR 8,186,735, against cash contribution by utilizing
partially the Company's authorized capital. The pre-emptive rights
of the Company's existing shareholders are excluded. The offering
will take place by means of an accelerated bookbuilding.
The net proceeds from the
transaction will be used primarily to support preparations of
further clinical development of lead product PQ912 beyond the
ongoing Phase 2a (SAPHIR) trial, in particular a long-term
treatment (Phase 2b); support further development of PBD-C06 and
PQ1565 and exploration of other mechanism-related indications;
support exploration of business opportunities, in particular
support a transaction based upon the data of the SAPHIR study; and
strengthen the financial position of the Company.
The accelerated bookbuild offering
will be launched with immediate effect and is expected to end
before markets open tomorrow, subject to acceleration or extension.
The Company will announce the results of the offering, including
the final number of New Shares and the offer price per New Share,
as soon as possible after the closing of the book building.
Following allocation of shares to
investors participating in the offering, such investors will
receive listed existing shares that are lent by a major shareholder
in the Company. This shareholder will receive the New Shares in
exchange for the listed existing shares lent by him. Investors
participating in the transaction will be able to trade on Euronext
Amsterdam any shares allocated to them as of such allocation, with
settlement expected to take place on 10 October 2016.
In relation to the offering, the
Company has agreed with the Joint Bookrunners to a market customary
90-day standstill period on future share issuances, waivable by the
Joint Bookrunners.
Kempen & Co is acting as
Global Coordinator and together with Bank am Bellevue and RBC
Capital Markets as Joint Bookrunners in the offering.
The shares will be offered
exclusively to institutional investors in Germany and elsewhere in
Europe and in certain other jurisdictions.
###
For more information, please
contact:
Probiodrug
Dr Konrad Glund, CEO
Email: contact@probiodrug.de
Hume
Brophy
Mary Clark, Supriya Mathur, Eva Haas
Tel: +44 (0) 203 440 5657
Email: probiodrug@humebrophy.com
Notes to Editors:
About Probiodrug
AG
Headquartered in Halle, Germany, Probiodrug AG (Euronext Amsterdam:
PBD) is a biopharmaceutical company focused on the development of
new therapeutic products for the treatment of Alzheimer's
disease.
Founded in 1997, the company
successfully developed a novel therapeutic concept for diabetes -
the DP4 inhibitors - which provided the basis for a novel class of
antidiabetics - the gliptins. Its core capabilities are based on
its long-standing expertise in the elucidation of the structure and
function of enzymes involved in the modification of proteins and
peptides, which play a central role in pathological conditions.
Today Probiodrug's aim is to
become a leading company in the development of Alzheimer's disease
treatments and to thereby provide a better life for Alzheimer's
disease patients. It has identified a new therapeutic concept
linked to disease initiation and progression. The development
approaches are targeting pyroglutamate-Abeta (pGlu-Abeta) as a
therapeutic strategy to fight Alzheimer's disease. The Company has
medical use and composition of matter patents related to the
inhibition of Glutaminyl Cyclase (QC) and anti-pGlu-Abeta- specific
monoclonal antibodies, providing it, in the Company's view, with a
leading position in this field of research.
Probiodrug's lead product
candidate, PQ912, is a highly specific and potent inhibitor of
Glutaminyl Cyclase (QC), which has shown therapeutic effects in
Alzheimer's animal models. PQ912 is currently in a Phase 2a study,
the SAPHIR trial. In a preceding Phase 1 study with healthy young
and elderly volunteers, PQ912 has shown to be safe and well
tolerated and also revealed high QC-inhibition.
www.probiodrug.de
About Alzheimer's
disease
Alzheimer's disease is a neurological disorder, which is the most
common form of dementia, and ultimately leads to death. Because
Alzheimer's disease cannot be cured and is degenerative, the
affected patients must increasingly rely on others for assistance.
. Today, 47 million people live with dementia worldwide, and this
number is projected to treble to more than 131 million by 2050, as
populations age. Dementia also has a huge economic impact.
Alzheimer's also has an estimated, global societal cost of US$ 818
billion, and it will become a trillion dollar disease by 2018.
(World Alzheimer Report 2016).
Forward Looking
Statements
Information set forth in this press release
contains forward-looking statements, which involve a number of
risks and uncertainties. The forward-looking statements contained
herein represent the judgment of Probiodrug AG as of the date of
this press release. Such forward-looking statements are neither
promises nor guarantees, but are subject to a variety of risks and
uncertainties, many of which are beyond our control, and which
could cause actual results to differ materially from those
contemplated in these forward-looking statements. We expressly
disclaim any obligation or undertaking to release publicly any
updates or revisions to any such statements to reflect any change
in our expectations or any change in events, conditions or
circumstances on which any such statement is based.
These materials are not for distribution, directly or
indirectly, in or into the United States (including its territories
and dependencies, any State of the United States and the District
of Columbia). These materials do not constitute or form a part of
any offer or solicitation to purchase or subscribe for securities.
The existing and the new shares in Probiodrug AG (together the
"Shares") mentioned herein may not be offered or sold in the United
States absent registration or an exemption from registration under
the U.S. Securities Act of 1933, as amended (the "Securities Act").
The Shares have not been, and will not be, registered under the
Securities Act and will not be offered or sold in the United
States, except on the basis of applicable exemptions from
registration. There will be no public offering of the Shares in the
United States or anywhere.